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The GFRID 2018 Agenda has been Released

The GFRID 2018 will feature 9 sessions, 8 panels and 4 workshops over three days. It will see the participation of major representatives from public and private sectors, as well as the civil society, involved in remittances and investments in Asia and the Pacific. 

Each day will be devoted to the discussion of key issues from the following areas: 


Day 1, the Private Sector Day, will highlight opportunities and challenges to promote sustainable business models that expand current remittance markets. Leveraging migrant and diaspora contributions to the economic development of their countries of origin demands financial inclusion strategies through synergies with financial markets and products.


The Public Sector Day will build on the learning from Day 1 and will highlight some of the vital public initiatives that are currently taking place. While a remittance, at its simplest, is a person-to-person money transfer, the development agenda recognizes that it presents opportunities to deliver so much more to revive local economies, particularly in rural areas. Many countries still hold regulatory barriers and other constraints to lowering remittance costs, promoting diaspora investment and facilitating financial inclusion.


Following two full days of plenary and panel sessions, Day 3 will enable participants to explore key themes in significantly greater detail. The morning will feature four workshops examining sub regions in Asia and the Pacific and key topics - Money Services Business regulation, blockchain, mobile banking solutions and social impact investment. In the afternoon, the organizers, partners and other selected entities will be hosting a series of meetings and side events with agencies and government representatives. Read more…

Asia and the Pacific is the largest remittance market in the world, having received in 2017 an estimated US$248 billion, equivalent to 55 per cent of global flows to developing countries. India, China and Philippines are the three greatest remittance-receiving countries globally by volume.
In Asia, remittances contribute more than ten times official development assistance (ODA). More importantly, remittances lift millions of Asian households out of absolute poverty, and provide millions more with the opportunity to improve their housing, health and education. All told, it is estimated that 70 million Asian households are supported by remittances – one out of every ten.

The opportunities, particularly in Asia-Pacific, are the sheer size of the remittance market, its leverage for financial inclusion, the application of new technologies and the focus and commitment of the public sector. However, there are many challenges to be overcome, such as de-risking and how to remain profitable and how to balance inclusion with profitability so that services can be offered/expanded.
The money migrants send home helps families put food on the table, send their children to school, improve housing and sanitation, and support economic development and job creation, thus helping to achieve the SDGs "One Family at a Time."
Leveraging remittances for financial inclusion allows convergence between the financial goals of remittance families and the commercial strategies of financial service providers. However, the impact of migrant remittances, savings and investments in helping to reach the SDGs can only be fully realized once coherent public policies and priorities couple private sector and civil society initiatives.

In turn, the international community recognizes that remittances are a vital source of support for hundreds of millions of people across the globe. Through such initiatives as the Global Compact for Migration, the contributions of millions of migrant workers will be strengthened, to the benefit of their families and the communities where they live.

The Remittances Innovation Awards (RemTECH Awards) will showcase the most innovative and outstanding ideas, services and products designed to improve remittance services worldwide. The awardees will present their ground-breaking solutions that benefit the market ecosystem and improve transparency, speed, cost and reliability for companies and remittance senders and receivers. Read more... 
The Forum Workshops

The GFRID 2018 will showcase four interactive workshops: 
  1.  Social impact investment meets diaspora investment in rural areas: Untapped opportunities
  2.  Blockchain and remittances: the new market strategies within reach?
  3.  Financial Inclusion and Mobile Solutions
  4.  Regulation and Supervision of Money service: The Malaysian experience
We will highlight each workshop in this newsletter in the coming weeks. See the first option below: 

Over the last two decades, migrant workers and their families have silently contributed extensively to rural development. Through both remittance usage and direct investment into small agricultural activities, migrant workers have de facto become the largest funders to development in rural communities. From the remittances invested in agriculture to the diaspora's agri-investments, this aid represents over four times global ODA to agriculture.
The first half of this workshop will address numerous examples of the impact of remittances in rural economies, and showcase limitations and opportunities for reaching significant scale. The second part will bring practical cases that can be replicated and scaled up with a potential long-term positive impact in rural transformation.
For further information, please contact us at: |
Kuala Lumpur office: +603-2691-6545 | Rome office: +39-06-5459-5066